Funding you earn now, next payment 08:00 UTC+0.0089%/8h= +9.7% APRpaid last 24h −0.024%
Price spread now: Phoenix against BloFin−0.078%7-day average −0.072% · you buy dearer than you sell
Net, funding: paid 7d − costs+$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$270.274% of the position
Funding, last 7 days+0.423%+$42 on $10k
+Price spread, last 4 days (all we have)−0.118%−$12 · spread now −0.078%, 7d avg −0.072%
=The price spread sits at its 7-day average of −0.072%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin SPY-USDT | 772.49 | −0.0120 | get 0.0120% / 8h | 7h 32m | $417K | $439K | 50x |
| Short | Phoenix SPY | 771.89 | −0.0031 | pay 0.0004% / 1h | 32m 38s | $158K | $151K | 20x |
BloFin SPY-USDT
Phoenix SPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BloFin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $18.68
- Price spread: −0.078% → −0.072%
- −$0.54
- Slippage, 4 orders
- −$8.4
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$9.26
- Costs to cover
- 0.274%
- Break-even
- 10.5 days
Slippage from BloFin: live order book, 43 min ago; Phoenix: live order book, 63 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy BloFin live order book, 43 min ago | 0.06 bp | 6.1 bp −$6 | 6.5 bp −$65 | 8.9 bp −$893 | 16.6 bp −$8,325 |
| Sell Phoenix live order book, 63 min ago | 0.52 bp | 8.1 bp −$8 | 17.6 bp −$176 | doesn't fit | doesn't fit |
SPY on 27 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin SPY-USDTlong | −0.0120% | 8h | 772.49 | long leg | $417K | $439K | 50x | |
| Phoenix SPYshort | −0.0031% | 1h | 771.89 | −0.078% | $158K | $151K | 20x | |
| Aster SPYUSDT | 0.0000% | 8h | 772.50 | +0.001% | $863K | $196K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 772.36 | −0.017% | $28.6M | $75.4M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 772.35 | −0.018% | $6.2M | $1.5M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 772.38 | −0.014% | $7.8M | $3.1M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 772.11 | −0.049% | $793K | $2.5M | 75x | as long as short |
| MEXC SPY_USDT | 0.0000% | 8h | 772.38 | −0.014% | $29.6M | $11.6M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 772.56 | +0.009% | $10.9M | $1.5M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 772.84 | +0.045% | $159K | $330K | 10x | as long as short |
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDT
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SPY-USDT | 0.0000% | 8h | 773.51 | +0.132% | $2K | $1.3M | 10x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 773.15 | +0.085% | $300K | $38K | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 772.48 | −0.001% | $56.6M | $118.6M | 50x | as long as short |
| Arcus SPY-USD | +0.0040% | 1h | 771.64 | −0.110% | $922K | $1.3M | 50x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 771.34 | −0.149% | — | $123K | 50x | as long as short |
| Ondo Perps SPY-USD.P | +0.0050% | 1h | 771.77 | −0.093% | $4.8M | $849K | 20x | as long as short |
| Coinbase International SPY-PERP-INTX | +0.0056% | 1h | 772.12 | −0.048% | $950K | $507K | 20x | as long as short |
| Nado SPY-PERP | +0.0079% | 1h | 771.91 | −0.075% | $1.5M | $250K | 20x | as long as short |
| KuCoin SPYUSDTM | +0.0100% | 8h | 772.00 | −0.063% | $2.5M | $1.0M | 20x | as long as short |
| ApeX Omni SPYUSDT | +0.0100% | 1h | 772.19 | −0.039% | $164K | $25K | 50x | as long as short |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 772.37 | −0.016% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 771.88 | −0.079% | $87K | — | 10x | as long as short |
| Lighter SPY | +0.0112% | 1h | 772.34 | −0.019% | $7.9M | $17.1M | 50x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 772.43 | −0.007% | $10K | — | 26x | as long as short |
| RISEx SPY/USDC | +0.0211% | 1h | 772.49 | 0.000% | $7.2M | $3.5M | 25x | as long as short |
| Deribit SPY_USDC-PERPETUAL | +0.0229% | 1h | 772.19 | −0.039% | $23K | $55K | 20x | as long as short |
| edgeX SPYUSDC | +0.0442% | 4h | 772.51 | +0.002% | $638K | $242K | 20x | as long as short |
SunX SPY-USDT
HTX SPY-USDT
Lighter RH SPY
Arcus SPY-USD
Vest SPY-USD-PERP
Ondo Perps SPY-USD.P
Coinbase International SPY-PERP-INTX
Nado SPY-PERP
KuCoin SPYUSDTM
ApeX Omni SPYUSDT
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
Lighter SPY
GMX SPY/USD [ETH-USDC]
RISEx SPY/USDC
Deribit SPY_USDC-PERPETUAL
edgeX SPYUSDC